Saturday, August 27, 2016

Bob Jain: The Do's & Don'ts Of Credit Score Improvement

By Paul Martinez

Needless to say, a credit card with a good standing is invaluable. It's used for a number of purposes, such as obtaining a loan for a house or business. What about those who don't necessarily have the best scores to show off? Is it possible for these men and women to improve matters, so that they're on better financial terrain? In order to do this - and the likes of Bob Jain can agree - here are the big do's & don'ts you should follow.

DO make your payments on time. One of the things to know about credit score improvements is that timely payments matter. When your bank statements arrive in the mail, you want to make sure that they're paid off as soon as possible. Not only will this elevate your score, but it will prevent you from needlessly falling into debt. This is just one of the many financial tips that will benefit your credit score in the long run.

DON'T sign up for too many credit cards. As companies like Bob Jain CS will tell you, multiple credit cards are harmful in various ways. For one, you have to cover more balances, which makes your financial situation messy. It also doesn't help that you run a greater risk of experiencing debt, thereby negatively impacting your credit score further. Ideally, you'll stick to stick with two cards: one for credit and the other for debit.

DO use your credit card responsibly. Bobby Jain CS will also stress the importance of responsibility, as it relates to credit card usage. In order to get your score up, you have to use your card from time to time. However, relying on it too heavily opens up its own collection of problems, specifically if you can't pay back the full sum on time. As an adult, you must be responsible for how often your credit is used.

DON'T become impatient when improving your credit score. The most important thing to know about credit score improvement is that it takes time. You're not going to see your score magically improve overnight, which means that you have to be patient. Make sure that you follow the aforementioned steps as closely as possible. By doing so, eventually you'll start to see the results that you're looking for.